The critical importance of purposeful intergenerational estate planning to effective family enterprise succession planning.

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Chris Delaney

Lawyer Chris Delaney joins our Estate Planning Project as a podcast guest expert.

During our conversation, we talked about many issues, including:

  1. Most wealth fails to survive to the third generation of a family. In fact, there is a saying, common to almost every culture, that goes something like “Shirtsleeves to Shirtsleeves in three generations”. Why is this phenomenon so prevalent and how can we avoid it?
  2. Does it matter whether wealth is destroyed in three generations? Isn’t creative destruction a good thing?
  3. Detail what is meant by family enterprise succession planning versus mere estate planning or business succession planning?
  4. Detail what is meant by purposeful planning versus more typical estate or financial planning.
  5. You suggest that purposefulness is a 360 degree requirement of effective planning right down to the selection of your advisors. Can you elaborate on that?
  6. We tend to focus on financial wealth when estate planning and you consider that a missed opportunity and, perhaps, a critical error because there are many other sources of family enterprise wealth. Describe that for us.
  7. Describe some of the steps that might be involved in a more strategic plan for wealth succession?
  8. You’ve written a book on the subject of strategic estate planning entitled “The Naked Opus: Growing Family Wealth for the Long Term”. The title is intriguing – can you describe how that fits with the conversation we are having today?
  9. How can people purchase your book?

Please take a moment to listen to this podcast.  It is important, insightful and thought provoking.

About Chris Delaney:

Chris Delaney, B.A., LL.B., B.Ed., TEP, FEA

Chris is the author of “The Naked Opus: Growing Your Family Wealth for the Long Term” (2018). He is a Professional Speaker and Intergenerational Family Wealth Strategist. He has worked as a Family Enterprise Advisor and lawyer with enterprising business families, Family Offices and families of wealth and their advisors to help them develop goals-based, strategic intergenerational wealth continuity plans. He is the Chair of the London and Southwestern Ontario chapter of the Society of Trust & Estate Practitioners (STEP).

 

About “The Naked Opus”:

“The Naked Opus: Growing Your Family Wealth for the Long Term” will be available at Chapters and other fine bookstores in August, 2018. It will also be available online at amazon.ca

For larger orders and speaking inquiries please go to www.nakedopus.com or email info@nakedopus.com

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